Building Details

Year built 2019

Listing Agency: eXp Realty LLC L***@exprealty.com Show Phone

Listed By: Yvonne Rosas · License #716775 Show Phone

Added: Jul 27 Changed: Oct 21 Last Checked: Oct 30 at 10:06PM

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MLS# 50097067

Copyright © 2026 Permian Basin Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

Built in 2019, this flex property contains 12,000 square feet, including approximately 10,000 square feet for shop and warehouse use and 2,000 square feet of office area. The layout includes four pull-through bays, 11 offices, five bathrooms, and a full kitchen. The property also has a water well and septic system on 3 acres.

Located at 1814 E County Rd 120 in Midland, the facility combines shop, warehouse, and office space within one property.

Key Highlights

• 12,000‑square‑foot building on 3 acres
• Approximately 10,000 square feet of shop and warehouse space, plus 2,000 square feet of offices
• Four pull‑through bays

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$130,705

Cap Rate

7.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,614,100 $2.6M

Cap Rate 7%

$1,867,214 $1.9M

Cap Rate 9%

$1,452,278 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$162.7K $13.56/SF

− Vacancy

−$8.9K −$0.75/SF

EGI

$153.8K $12.81/SF

− OpEx

−$23.1K −$1.92/SF

NOI

$130.7K $10.89/SF

Area

Midland, TX

Vacancy

5.50%

Lease Rate

$13.56 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,614,100

Cap Rate 7%

$1,867,214

Cap Rate 9%

$1,452,278

Alternative Uses

Best Use

Warehouse

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,705 @ 7.0% cap · market cap 7.30%

Second Best

Industrial

$1.54M

$1.35M – $1.79M (±1% cap)

NOI $107,639 @ 7.0% cap · market cap 6.01%

Theoretical Best

Office A

$2.83M

$2.48M – $3.30M (±1% cap)

NOI $198,144 @ 7.0% cap · market cap 11.07%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Oil-Tech Services Oilfield

Suggested Use

Top Pick HVAC Service Hair Salon Kitchen & Bath Showroom Grocery & Convenience Store Electrical Service Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Drive-in doors

Location Intelligence

Trade Area within ½ mile

73

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 79706, TX

31,805

Population

12,368

Households

2.6

Avg Household Size

32

Median Age

23%

College-Educated

87%

High-School Grad

689.5 sq mi

ZIP Area

46

Density / Sq Mi

$110,988

Median Household Income

$58,023

Median Earnings

$897

Median Rent

$280,500

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Shop and office areas support a mix of operational and administrative functions.

Where is this flex space located?

The property is located at 1814 E County Rd 120 Midland, TX.

What is the asking price?

The asking price for this property is $1,790,000.

What are key features of this property?

This property features: 12,000‑square‑foot building on 3 acres; Approximately 10,000 square feet of shop and warehouse space, plus 2,000 square feet of offices; Four pull‑through bays